In a large mixing bowl, using a hand or stand mixer, cream the butter and shortening for 2 minutes, until light and fluffy. Mix in the vanilla extract, salt, and cotton candy flavoring (start with 1-2 drops as this flavoring is very strong!).
Slowly mix in the powdered sugar, 1 cup at a time, while alternating 1 tablespoon of the half and half. Continue to mix until creamy and stiff peaks form.
Divide the frosting into 3 containers. Add the blue food coloring to one container and the pink to the other, 1 drop at a time and mix until desired color is achieved. Leave the other container without color.
Add each color to its own small piping bag until you have 3 bags of frosting and then insert your 3 smaller piping bags into the large, prepared piping bag.
Before frosting your cupcakes, squeeze out a bit onto a plate until you see all the colors come out. Frost your cupcakes and garnish with cotton candy of desired and enjoy!